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SUPERVISED BY: Nighat Farzana Lecturer School of Business Administration Uttara University, Bangladesh
SUBMITTED BY:
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SUPERVISED BY: Nighat Farzana Lecturer School of Business Administration Uttara University, Bangladesh
SUBMITTED BY:
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Letter of Transmittal
Date: 23th December, 2012
Nighat Farzana School of Business Administration Uttara University, Dhaka. Subject: Transmitting the internship report on Marketing Strategy of Tepantor Housing.
Dear Madam, It is my pleasure to submit this internship report on the topic Marketing Strategy of Tepantor Housing. I have tried my best to analyze all necessary information related to my topic and present as affectionately as possible. It is not impossible that there will be minor mistakes in this report. But still I hope that this report will provide the appropriate analysis on the topic of Marketing Strategy of Tepantor Housing. In conclusion, I want to express my thanks to you, as without your co-operation it would barely impossible for me to prepare this report related to my subject. If you need any help to interpret anything of this report, please let me inform.
Thanking you Md. Manik Hasan ID: Major: Marketing School of Business Administration Program B.B.A. Section 18th (C)
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Preface
After completion our BBA final examination, Internship Program is an important part for our post-graduation degree. For this reason, I perused my Internship Program in Tepantor Housing Ltd, from 14th October to 10th December 2012. The duration of the program was two months. Like other employees of Tepantor Housing Ltd, I worked there at regular basis aiming to acquire practical knowledge which will help me in my practical life. In two months, I tried with my best ability to learn about the instructions, characteristics, natures, functions, competitiveness, workflows etc. of housing system. Tepantor Housing Ltd is one of the leading real estate companies in the country as a housing position. With the housing functions, it is very much huge and complex.
I tried to understand these complex and huge characteristics, nature, functions etc. However, I tried my best to blend with these situations and realized most of these things. In a short time, it is impossible to learn all things.
In the duration of nine weeks, I also tried to gather all the information and knowledge from different text books, brochures to understand the difficult task of the company. In this report, I have presented those in proper, chronological and precise way.
At the end, I can only state that by this Internship Program I am able to complete my BBA course from Uttara University. I found all sorts of co-operation and good work environment in two months working with Tepantor Housing Ltd. Everybody concerned with management and administration of the company was compassionate to me.
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Acknowledgement
A lot of concentration, effort, responsibility and study have been involved in preparing this paper into reality. In preparing a report one needs a number assistance and guidance from reliable sources. This report also stands on the basis of such efforts. I have pleasure to express my gratitude to the internship and placement committee for arranging such a program from which I have carried a lot of practical experience.
At the very outset, I would like to express my profound respect to my honorable teacher Nighat Farzana, lecturer of business faculty, who is my supervisor, of Internship Program designed for the BBA students. Her continuous supervision has inspired me to make a more feasible report based on in-depth analysis.
In preparing the report, I received active co-operations from the AVP, Second Marketing Officer of Tepantor Housing Ltd. I sincerely express my heart-felt gratitude to them for their Co-operation, which helped me to conduct and complete this Report. Those were frankly, dynamic and helped me seriously and given me their valuable time during my internship program. Some time I did interfere in their most important work by asking many questions for my internship purpose and they were very polite and willing to answers my questions with patience.
However, to my best I tried very hard and worked sincerely to prepare this report an informative one. At last, my sincere apology goes to the readers for my conceptual & printing mistake, if there is any.
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Executive Summary
In Bangladesh, the real estate business started in 1964. Ispahani Group was the pioneer in this sector. During 1970s there were fewer than five companies in Bangladesh engaged in this business. But now this is a booming sector of the company. Tepantor Group was started its journey in 1990. Tepantor Group is a market leader in the real estate building & development sector. Tepantor Group is our environmentally responsible response to the rapid spate of urbanization in Bangladesh. Pressures of urbanization in this country are compounded by the unfavorable land man ration. Tepantor Group has embarked upon a mission to make the maximum use of minimum land being sensitive to both environmental concerns and social continuity. Planned development by Tepantor Group of the sites around the city has added value to those areas released pressure on inner cities and persecuted the city dwellers with breathing space. Tepantor at Corporate Branch has currently 150 employees, including drivers & peons. I have worked as an internship at Tepantor Group Corporate Branch from 14th October, 2012. Tepantor Group is a fastest growing housing company in Bangladesh. In 2001, Tepantor Group launched their first land project at Purbail Tepantor City. That & project is now under process. Next, Tepantor Group has recently launched the mega project at Ashulis, Ashulia Abskash, Ashulia Barnali, & Ashulia Kingdom. Tepantor Group participates on REHAB housing fair two times in a year. In the fair we take a stole for selling the plots. To make the sale successful the corporate office always provides feedback to the local office. We provide the brochures, maps, & other accessories so that the sales team can easily make their sales. Finally Tepantor Group has successfully established itself as one of the leading real estate developments in Bangladesh with reputation for a touch of class & dignity within the reach of all class of people.
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Chapter No.
Letter of Transmittal. Preface. Acknowledgement. Executive Summary.
Title
Page No.
03 04 05 06
Chapter 01
1.1 Background of the Study 1.2 Methodology. a) Primary source of data. b) Secondary source of data. 1.3 Objective of the Study. 1.4 Scope of the Study. 1.5 Limitation of the Study.
11 12 12 12 13 14 15
Chapter 02
Introduction. 2.1 History of Tepantor Group 2.2 Vision. 2.3 Mission. 2.4 Business Philosophy 2.5 Features of every projects to Tepantor Group
17 17 18 18 18 19
Chapter 03
21 21
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"Marketing Strategy of Tepantor Housing 3.3 Daily Routine 3.4 Learning Points 22 22
Chapter 04
4.1 Service quality in the eye of Tepantor Group. 4.2 Purpose of Service quality.
24 24
Chapter 05
5.1 The Role of Marketing 5.2 Marketing Effectiveness a) Marketing Strategy. b) Marketing Creative. c) Marketing Execution. d) Marketing Infrastructure e) Exogenous Factors 3.3 What Marketers do?
26 27 28 28 28 28 29 29
Chapter 06
32
Chapter 07
Marketing Mix
34
Chapter 08
39
Chapter 09
SWOT Analysis
38-39
Chapter 10
41
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To keep pace with this situation, we need this sector knowledge for future career. If we want to build our career in real estate area, only theoretical knowledge would not help us. As internship program is established to gather practical knowledge regarding various sector of economy, I chose to get practical knowledge regarding this sector and I select Tepantor Housing Ltd as my organization to work.
The duration of my program was nine weeks and during this period, I have learned many things. I observed that there is a great difference between theoretical knowledge and practical knowledge. I learned many terms, functions and nature of Housing activities. I also get practical knowledge regarding organizational environment.
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1.2 Methodology
A sample survey was conducted to collect primary data using two pre-designed survey instruments from concerned groups following an appropriate sample design. In view of the complexities involved in generating quantitative data for assessing the real impact, qualitative data were also collected using Focus Group Discussions (FGDs). In the context of the unique features of the area an attempt was made to identify the strengths, weaknesses, opportunities and threats of the banking sector. Data Collection This study is mainly based on secondary data available from the various divisions and departments of Tepantor Housing Ltd, in addition to these other necessary information have been collected from the daily newspapers, relevant journals, annual reports of Tepantor Housing Ltd, Web side and publications of other relevant institutions have also been taken into consideration. Primary sources of data: Face to face conversation with marketing officers & staffs. Conversation with the clients. Different' manuals of Tepantor Housing Ltd. Different circulars of Tepantor Housing Ltd. Discussion with others Officers. Personal observation. Desk work in different sections/departments.
Secondary sources of data: Procedure manual published by the Tepantor Housing Ltd. Files and documents of the company. Annual report of Tepantor Housing Ltd, 2010-2011 Different papers of Tepantor Housing Ltd. Unpublished data. Different text books.
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To achieve the broad objective the following specific objectives has been attained: To find out the marketing strategy of Tepantor Housing Ltd. To find the financial performance of Tepantor Housing Ltd. Analyzing the performance of the company. To find out the different procedures of the company. To know the competitive strength and weakness of the company. To know the marketing and expansion strategy of the company that can help to face the potential threats and opportunities. To know the technological advantage and lacking of this company in the modern Housing system. To find out the relations among the various department. To make a bridge between the theories & practical procedures of real estate sector day-to-day operations. To make possible recommendations for the internship organization to improve the services & service range so that the department can cater to the needs and demands of customers.
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Within such a short period of time (nine weeks), it was not possible for me to study everything about Tepantor Housing Ltd. The officers are so much busy that they cannot properly co-operate with me, which are a problem. Companys policy of not disclosing some data and information for obvious reason, which could be very much useful. To analysis SWOT of emerging market is a wide spread survey material. However, time constraint restricted the report to specific feature. The study requires experience to be fruitful but it was completely absent to me. Sometimes the officials were reluctant to give proper information regarding their activities because they felt hesitation and ambiguity to give data and information.
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Introduction
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Tepantor Group is our environmentally responsible response to the rapid spate of urbanization in Bangladesh. Pressures of urbanization in this country are compounded by the unfavorable land man ration. Tepantor Group has embarked upon a mission to make the maximum use of minimum land being sensitive to both environmental concerns and social continuity. Planned development by Tepantor Group of the sites around the city has added value to those areas, released pressure on inner cities and persecuted the city dwellers with breathing space.
Professional team of design experts with mod outlook and engineers with state of the art equipment are backed by an R & D team constantly probing human habitat horizons as well as building technology. Their endeavors have resulted in the creation of aesthetically inspiring architecture, environmentally friendly development and top quality building. Tepantor Group aim is to provide its clients with competitive price, quality materials, & hand over project on time. Tepantor Group is the symbol of customer confidence.
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2.2 Mission
The mission of Tepantor Group is to provide service at an economic cost & progress in diversity & continue to the growth of real estate sector in Bangladesh by being the real estate market challenger.
2.3 Vision
The vision of Tepantor Group is to offer unparalleled service to create customer delight & enhance real estate business. Their vision is to achieve excellence & different sense of modern living style.
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Making calls to customers for giving the due amount: Every customer is not pay full amount of money. Most of the customer use installment. So Im calling the customer for giving the due amount. Communicate with customer until the land has transferred: Im communicating with my customers until the land has transferred because of customer satisfaction.
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keep observing the service activities. Guiding lost clients to have proper services. Having guest suggestion and complains and reporting. Ensuring clients solutions and quality services. Service Auditing and Monitoring. SQ works with process & people part of customer Service.
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ROLE OF MARKETING
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Marketing is also the organizational business area that interacts most frequently with the public and, consequently, what the public knows about an organization I determined by their interactions with marketer. For example, customers may believe a company is dynamic and creative based on its advertising message. At a broader level marketing offers significant benefits to society. These benefits include: Developing products that satisfy needs including products that enhance societys quality of life. Creating a competitive environment that helps lower products prices. Developing product distribution system that offers access to products to a large number of customers and many geographic regions. Offering techniques that have the ability to convey messages that change societal behavior in a positive way (e.g., anti-smoking advertising).
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Competitive Each company in category operators within a similar framework as described below. In an ideal world, marketers would have perfect information on how they act as well as how their competitors act. In reality, in many categories have reasonably good information through sources. In many industries, competitive marketing information is hard to come by.
Customers/ Consumers Understanding and taking advantage of how customers make purchasing decisions can help marketers improve their marketing effectiveness. Groups of consumers act in similar ways leading to the need to segment them. Based on these segments, they make choices based on how they value the attributes of a product and the brand, in return for price paid for the product. Consumers build brand value through information. Information is received through many sources, such as, advertising, word of- mouth and in the (distribution) channel.
Exogenous Factors There are many factors outside of our immediate control that can the effectiveness of our marketing activities. These can include the weather, interest rates, government regulations and many others. Understanding the impact these factors can have on our consumers can help us to design programs that can take place in the middle of our marketing campaigns.
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"Marketing Strategy of Tepantor Housing There are five factors driving the level of marketing effectiveness that marketers can achieve:
1. Marketing Strategy Improving marketing effectiveness can be achieved by employing a superior marketing strategy. By positing the product or brand correctly, the product/brand will be more successful in the market than competitors product/ brands. Even with the best strategy, marketers must execute their programs properly to achieve extraordinary results.
2. Marketing Creative Even without a change strategy, better creative can improve results. Without a change in strategy, it was able to achieve stunning results with its introduction of the campaign.
3. Marketing Execution By improving how marketers go to market, they can archive significantly greater results without changing their strategy or their creative execution. At the marketing mix level, marketers can improve creative execution by making small changes in any or all of the 4-ps ( Product, Price, Place and Promotion)( Marketing) without making changes to
the strategic position or the creative execution marketers can improve their effectiveness and deliver increased revenue. At the program level marketers can improve their effectiveness by managing and executing each of their marketing campaigns better. Its commonly known that consistency of a Marketing C reative strategy across various media (e.g. TV, Radio, Print and online), not just within each individual media message, can amplify and enhance impact of the overall marketing campaign effort.
4. Marketing Infrastructure Improving the business of marketing can lead to significant gains for the company. Management of agencies, budgeting, motivation and coordination of marketing activities can lead to improved competitiveness and improved results. The overall accountability for brand leadership and business results is often reflected in an organization under a little within a department.
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5. Exogenous Factors Generally out of the control of marketers external or exogenous factors also influence how marketers can improve their results. Taking advantage of seasonality, interest or the regulatory environment can help marketers improve their marketing effectiveness.
While these decisions are shown with a number, the order of decision-making does not necessarily follow this sequence. However, as we will discuss, in almost all cases marketers should first identify target markets (#1) prior to making decisions #2 through #6 (commonly called the Marketing Mix) since these decisions are going to be directed toward satisfying the desired target markets. Each option within the marketers toolkit is tightly integrated with all other options so that a decision in one area could, and often does, impact decisions in other areas. For instance, a change in the price of a product (e.g., lowering the price) could impact the distribution area (e.g., requires increased product shipments to retail stores).
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Additionally, options within the toolkit are affected by factors that are not controlled by the marketer. These factors include economic conditions, legal issues, technological developments, social/cultural changes, and many more. While not managed in the way marketers control their toolkit, these external factors must be monitored and dealt with since these can cause considerable harm to the organization. Ignoring outside elements also can lead to missed opportunities in the market especially if competitors are the first to take advantage of the opportunities. As part of the strategic and tactical planning process discussed above it is wise for marketers to pay close attention to the environment outside the organization.
Finally, as noted earlier, research plays a significant role in all marketing decisions areas. Marketing decisions should not be made without first committing time and resources to obtaining needed information.
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TARGET CUSTOMERS
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Like others company/ organization, Tepantor Group also try to identify their target customers. After a long time Tepantor observe present situation of Bangladesh land development, other real estate companys customers database, and customers nature, finally they decide to sell their project in middle class people.
It means basically, they target middle class people to sell their project and they adjust their plot price based on the income level of middle class people.
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MARKETING MIX
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Product: Basically Tepantor Housing or Tepantor Land is not a single product of Tepantor Group. They have also some good products such as Tepantor food, Mahir Fabrics & Design, Tepantor 3D Lab, Tepantor Cox Valle Ltd, Tepantor Multipurpose co-operative society Ltd, Tepantor Eco Park, Tepantor CFL, Tepantor Traverse, Tepantor Solar Panel, Tepantor Trade International and Tepantor Special Bricks.
Price: The price of their housing or plot project is not so much huge. It is in the reach of middle man. Tepantor Group believes that if they serve good quality service to their customers, then they can easily earn profit with their lower price level of plot or housing project.
Place: Tepantor Group basically select outside of Dhaka to run their project. It is because; at present there is not sufficient place inside Dhaka for a satellite Town. So that at present they choose Purbail area for running their original project.
Promotion: Tepantor Group uses various promotional tools. Recently, they attended USA Land Development Fair for promoting their products. They also make various types of Campaign, Road show; sponsor various social works, programs, News channels etc. for promoting their products.
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CUSTOMER GAP
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Not knowing what customers expect. Not having the right service quality design and standards. Not delivering to service design and standards. Not matching performance to promises.
Tepantor Group is one of the best real estate companies of Bangladesh. They provide better service to their customers. But when we analyze the customer Gap of Tepantor Group, we find that they have some lackings. Tepantor Housing committed with their customers that handover their plot in just time with proper documents with registration. But, I found that they fail to maintain their commitment with their customers. In most cases, they handover their plot after 2/3 years later of their commitment time. As a result, they fail to capture new target customers and also lose their corporate clients, loyal customers. Basically they fail to identify their customers demand that what really customers wants, and fail to maintain their promises. So, ultimately there arise two Gaps between customers and Tepantor Group. That is Gap one: Not knowing what customers expect. Gap four: Not matching performance to promises.
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SWOT ANALYSIS
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SWOT ANALYSIS
The term SWOT is the abbreviated from of Strength, Weakness, Opportunity, & Threat. In SWOT analysis Strength & Weakness are determined by internal factor, while Opportunity & Threat are determined by the external factors.
SWOT Analysis
Internal Factors
External Factors
Strength
Weakness
Opportunity
Threats
S (strengths): Tepantor Groups management systems are always committed to better service. All of employees of Tepantor group are sincere reliable. Tepantor Groups market potentiality is very high. Tepantor Group has effective sales team. Tepantor Group always keeps records in appropriate methods. They use advanced information system. Tepantor Group maintains Good relationship between top management & employees. They have strong security system. Tepantor Group has a well-decorated office.
W (weaknesses): Could not maintain the rules & regulation according to appropriate law. Installment facilities are not in customers favor. Decision can take only the top management. Improper government policy. Low area market coverage.
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O (opportunities): New real estate business is opening day by day. Improve the service quality then the others. Improve high customer satisfaction. Take the opportunity to get a huge amount of money.
T (threats): Increased the number of Real Estate Company. Government interrupts in the way of development. Growing up of overall cost. Complexity of RAJUK rules & regulation. Project areas are hassle by the local village political.
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Recommendation
As per earnest observation some suggestion for the improvement of the situation are given below: To attract more customers Tepantor Group has to create a new marketing strategy which will be able to increase their business as it could improve revenue. The officers of Tepantor Group Corporate Branch think that long term training is required for company officers for the betterment of the service. Computer training is must today to improve the individual as well as company performance. Maximum customers are expecting the responsible price, so carefully the price should be established in per plot. All modern facilities are equal distribution in all class of people. To provide financial assistance like Desa, Tista, Wasa, T&T to be strengthened & for getting connection of utilities promptly the procedural bottleneck should be removed. Improve office atmosphere to give customers friendly feeling. Provide intimate attention to customer needs. Customer convenience will receive priority. Customer database should be more organized. Have to more aware about customers right.
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Conclusion
In our country there is a not adequate land for peoples livings. Peoples are very interested to get a piece of land that meets their housing problem. Tepantor Group is one of the renowned housing companies in Bangladesh. The company provides complete housing solution to the people. Tepantor Group also contributes in our national economy. Main goal of Tepantor Group is to provide better services to the customers. Tepantor Group has been faced internal problem which is faced by almost every real estate company. At first, it is very difficult to find out a vast area of blank space in Dhaka city. Beside this Government & non-government organizations always creates political forces. Local terrors often harassed company for donation. It is very tough to occupy after buying the land. It is found in most cases that there is more partner or same land & have to face complexion of laws with them. At last, Tepantor Group doing its business successfully in our country. It provides its services as per its commitment & improves the business continuously.
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References
Books
L.Franch.Wendell and H.Bell.Cecil 2001.Organization Development 6th Edition. Transactions in foreign exchange: Principles and Practices (M.A Yousuf & M.R Sinha).
Annual Report
Annual report 2009 Jamuna Bank Limited. Annual report 2010 Jamuna Bank Limited. Annual report 2011 Jamuna Bank Limited.
Hand note
Mr. Md. Belal Hossain (manage) and Mr.Biplom Kumar Chakraborty (FAVP) (General Banking division, Ashulia Branch)
Website
JBL Branches. Available from http://www.jamunabankbd.com/info branch list Jamuna Bank Limited 2012, History of JBL, available from
http://www.jamunabankbd.com http://www.Swift.co
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